Hungary turns to China and India

The government expects breakthrough in China-Hungary relations. Viktor Orbán is visiting China to sign the first contracts about Hungarian companies' investments in China financing through EUR1 billion credit. India's Ambassador in Hungary, however, pointed out three or four major conventions can be signed during Viktor Orbán's upcoming visit to India.

7 March 2012

Hungarian Prime Minister to visit China in May.

Viktor Orbán's upcoming visit to India can bring major economic announcements: three or four conventions are just ready to be signed - said Gauri Shankar Gupta, India's Ambassador in Hungary. The ambassador explained that significant developments are involved, such as joint projects, cooperation in science and technology. In fact, the date of official visit to India has not set yet .

Indo-Hungarian bilateral relations

Answering to the question of another targting sectors for Indian investments in Hungary, he said, such as pharmaceuticals, electronics and chemical industr and water management.

The Ambassador expects 30% expansion for this year in the terms of trade between the two countries compared to last year.

According to the Indian embassador, India, the world's tenth largest economy, has not received a request from Hungary to buy Hungarian government bonds.

Regarding Opportunities for Hungarian companies in India, Gauri Shankar Gupta said that India will spend $1,000 billion only for infrastructure developments in the next five years and India does need foreign direct capital investments.

Hungary to become a European hub for China as a logistics and commercial distribution centre

Viktor Orbán to visit China in May. It is planned to sign the first contracts about Hungarian companies' investments in China financing through EUR1 billion credit.

Balázs Hidvéghi, Deputy State Secretary of Economic Affairs, acknowledged the government's missing improvments in economic relations with China, as previously expected, but he thinks changes in strategy to help breakthrough in economic relations.